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Property Lines - Scott Olson

Welcome to Property Lines, Indy's favorite source for neighborhood real estate news. Your host, IBJ real estate beat reporter Scott Olson, can be reached at solson@ibj.com.
Real Estate & Retail

Construction begins on downtown condo project

November 11, 2009

Construction has finally begun on a condo conversion of an historic five-story building known as The Shelton. A loan for the roughly $3-million project fell through last year, but developer Klaus Wittern recently secured new financing from Merchants Bank of Indiana, formerly known as Symphony Bank. Plans for the 1926 building on Delaware Street between St. Clair and Ninth streets call for 16 condo units with hardwood floors, granite countertops, tiled showers and stainless-steel appliances. They will range from $130,000 for 650-square-foot units to the mid-$200,000s for units larger than 1,000 square feet. The first should be available by March, and completion is scheduled for May. The building originally contained 50 apartment units and was designed by an apprentice of Frank Lloyd Wright. Keystone Construction is the general contractor.

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